Avalanche has been unable to break through the $30 resistance zone for a month. PA and indicators indicate that a short-term range may form. Since early August, Avalanche [AVAX] has been slowly rising.

In the past three months, it has risen nearly 78% from the low point set on August 5th. During this period, Bitcoin [BTC] and Ethereum [ETH] have risen by 36.5% and 23.8% respectively. This means that Avalanche cryptocurrency has outperformed the largest and most popular assets by far. However, the token is not yet ready for a long-term upward trend.

The avalanche trend is not strong. Avalanche 1-day chart Source: AVAX/USDT momentum oscillation indicator histogram on TradingView is close to the zero line, and the red bar shows that the bullish momentum is fading. The market structure is bullish, but the trend has slowed down in the past three weeks. This is reflected in the DMI, where ADX (yellow) is below 20. This indicates that a strong trend has not yet formed. The A/D indicator in October also remained flat, indicating a lack of stable buying or selling pressure. These indicators support the PA indicating a lack of trend.